National Business

NEW YORK — Technology companies led a broad stock market rally Tuesday after two economic reports raised hopes on Wall Street that the economy is cooling enough for the Federal Reserve to pause hiking interest rates. The S&P 500 rose 1.

TORONTO — Gains in energy, technology and base metals helped lead a broad-based rally on Canada's main stock index Tuesday, which rose 1.32 per cent, while U.S. markets also posted gains. The S&P/TSX composite index closed up 265.

TORONTO — Metro and Unifor have returned to the bargaining table a month after thousands of the grocer's employees went on strike across Toronto, the union said.

TORONTO — Scotiabank's loan growth slowed last quarter as the bank took a more cautious approach to lending amid heightened strain on borrowers from higher interest rates.

TORONTO — BMO Financial Group's third-quarter profit took a hit in part from severance costs and rising provisions for bad loans as the bank prepares for an extended stretch of economic strain.

TORONTO — A new TransUnion report shows a consistent rise in borrowing among Canadians in the second quarter as they contend with the higher cost of living.

WASHINGTON (AP) — Businesses posted far fewer open jobs in July and the number of Americans quitting their jobs fell sharply for the second straight month, clear signs that the labor market is cooling in a way that could reduce inflation.

TORONTO — Some Canadians may be overestimating their ability to manage their finances and pay off their debt, a survey by Chartered Professional Accountants of Canada shows.

NEW YORK (AP) — Best Buy sales and profits slid in the second quarter as the nation's largest consumer electronics chain continues to wrestle with a pullback in spending on gadgets after Americans splurged during the pandemic.

LUNENBURG, N.S. — High Liner Foods Inc. says chief executive Rod Hepponstall is stepping down. The company says its board has accepted Hepponstall's resignation, effective on or before Jan. 2, 2024.